Question: Problem 5-11 Present Values (LO2) You can buy property today for $2.4 million and sell it in 5 years for $3.4 million. ou earn no

Problem 5-11 Present Values (LO2) You can buy property today for $2.4 million and sell it in 5 years for $3.4 million. ou

Problem 5-11 Present Values (LO2) You can buy property today for $2.4 million and sell it in 5 years for $3.4 million. ou earn no rental income on the property.) a. If the interest rate is 8%, what is the present value of the sales price? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) Present value million

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